Onto Innovation (NYSE:ONTO) Hits New 12-Month High Following Analyst Upgrade

Onto Innovation Inc. (NYSE:ONTO) shares hit a new 52-week high during mid-day trading on Tuesday after B. Riley Financial raised their price target on the stock from $275.00 to $310.00. B. Riley Financial currently has a buy rating on the stock. Onto Innovation traded as high as $259.00 and last traded at $254.6040, with a volume of 16905 shares changing hands. The stock had previously closed at $252.61.

ONTO has been the topic of several other research reports. Needham & Company LLC upped their price objective on shares of Onto Innovation from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Oppenheimer reissued an “outperform” rating and set a $265.00 price objective on shares of Onto Innovation in a research note on Friday, February 20th. Stifel Nicolaus set a $220.00 price objective on shares of Onto Innovation in a research note on Friday, February 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Onto Innovation in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Onto Innovation from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $260.00.

Hedge Funds Weigh In On Onto Innovation

Large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its stake in Onto Innovation by 31.2% during the third quarter. Principal Financial Group Inc. now owns 145,532 shares of the semiconductor company’s stock worth $18,806,000 after purchasing an additional 34,567 shares during the period. New York State Common Retirement Fund raised its stake in Onto Innovation by 64.9% during the third quarter. New York State Common Retirement Fund now owns 117,232 shares of the semiconductor company’s stock worth $15,149,000 after purchasing an additional 46,118 shares during the period. EFG Asset Management North America Corp. purchased a new position in Onto Innovation during the third quarter worth approximately $1,549,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in Onto Innovation by 36.6% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 51,176 shares of the semiconductor company’s stock worth $6,613,000 after purchasing an additional 13,714 shares during the period. Finally, Eagle Rock Investment Company LLC raised its stake in Onto Innovation by 99.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 10,037 shares of the semiconductor company’s stock worth $1,584,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Up 1.4%

The company has a market cap of $12.74 billion, a PE ratio of 92.48, a P/E/G ratio of 1.34 and a beta of 1.47. The stock’s 50 day simple moving average is $211.26 and its two-hundred day simple moving average is $175.62.

Onto Innovation (NYSE:ONTO) last issued its earnings results on Thursday, February 19th. The semiconductor company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.02). Onto Innovation had a net margin of 13.60% and a return on equity of 12.20%. The business had revenue of $266.87 million during the quarter, compared to analysts’ expectations of $265.78 million. During the same period in the prior year, the business posted $1.51 EPS. The business’s revenue was up 1.1% on a year-over-year basis. Onto Innovation has set its Q1 2026 guidance at 1.260-1.360 EPS. Analysts forecast that Onto Innovation Inc. will post 6.26 EPS for the current year.

Onto Innovation Company Profile

Onto Innovation (NYSE:ONTO) is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company’s solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.